In its first time reporting as a merged company, SpartanNash on Wednesday said its sales and profits improved in the most recent quarter, excluding charges related to the merger.
Adjusted earnings from continuing operations were $11.1 million for the most recent third quarter, compared with $4.9 million in the year-ago period. Including one-time charges, the company posted a loss of about $14 million for the 15-week quarter, which ended Dec. 28.
Consolidated net sales for the 15-week third quarter increased 69.1% to $1.3 billion, primarily due to $563.2 million in sales from Nash Finch generated as a result of the merger, comparable-store sales gains of 0.7% and the impact of new distribution customers, partially offset by $46.1 million in sales for an extra week in the year-ago quarter. Excluding the impact of the extra week last year and contributions from the merger, sales would have increased about 3.8%.
Distribution sales increased 63.5% to $565.8 million in the recent third quarter due to $224.6 million in sales from Nash Finch, as well as new business gains, partially offset by the extra week of sales last year. Excluding the impact of the extra week last year and contributions from Nash Finch, distribution sales would have increased 4.3%.
Retail sales were up 17.4% to $520.9 million, due to $90 million in sales generated as a result of the merger, as well as the previously disclosed acquisition of a grocery store and fuel center in the year-ago third quarter and the 0.7% increase in comps, excluding fuel, partially offset by $2.7 million in fewer sales due to the closure of certain stores and $27.3 million in sales for the extra week in last year’s third quarter. Excluding the impact of the extra week a year ago and contributions from the merger, retail sales rose 3.5%.
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